SPX: Structure Shifting Below HighsS&P 500SP:SPXRegimeAtlasAfter a strong multi-month expansion, price transitioned into compression beneath prior highs. The structure has now weakened, with price breaking below the rising 50-day moving average. Key level: – 6,800: prior support → now under pressure The broader regime is no longer stable. Conditions have shifted from expansion to conditional. As long as price remains below the 50 SMA, downside continuation risk increases. Informational analysis. Not investment advice.